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Sold - Lot 7, Tamworth, NSW

Sold – Lot 7, Tamworth, NSW

63m2  1 Bedrooms 1 Bathrooms Year Built: 2000

Entry level investing returning 261.80 per week

Large one bedroom apartment with open kitchen, meals and family room. Top floor with balcony.
Apartment has recently been repainted, re-carpeted, with kitchen upgrades and tiling.
Total floor area of 63m2 + Carpark on title.

Lot Asking Price status Gross Return Net Return Weekly Return Annual Rent
7 $190,000 SOLD 7.16% 5.71%** $261.80 $13,613 pa

** Net yields do not include any upcoming refurbishment obligations.

Current Rent: $261.80 per week ($13,613 per annum)
Current Return: 7.16% gross
INCREASES AS FOLLOWS:
Oct 2018- $14,157- 7.44% gross
Oct 2019- $14,723- 7.74% gross
Oct 2020- $15,312- 8.05% gross
Oct 2021- $15,925- 8.37% gross
Lease Terms: Lease 30/09/2022 plus 6 x 5 Year options
Rent Increases: 4% yearly with market rent reviews every 5 years (next due 2022)

Tamworth boasts a busy year round calendar of events and festivals, locally grown food and wine, country experiences, outdoor recreation and vibrant heritage, museums and arts.
A solid investment apartment in a region that attracts residents, investors, workers and visitors alike.

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